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Measuring the Value of Urban Forest using

Author

Listed:
  • Jan Melichar
  • Pavel Rieger
  • Ondřej Vojáček
  • Karel Jedlička

Abstract

A hedonic model to the Prague real estate market was applied in order to estimate the effects of the proximity to urban forests and parks on prices of the real estate. Therefore, a large database of 1,701 observations was constructed. This database contains structural aspects, accessibility characteristics and environmental variables on proximity and size of the nearest urban forest. Several regression models have been developed and their robustness has been tested in terms of the signifi cance of parameters and the size of variability explained. Results showed the size of the fl at is the most relevant variable explaining the price of the real estate. A signifi cant inverse relationship between the price of the real estate and its distance from a metro station and an urban forest has also been found.

Suggested Citation

  • Jan Melichar & Pavel Rieger & Ondřej Vojáček & Karel Jedlička, 2009. "Measuring the Value of Urban Forest using," Regionální studia, Prague University of Economics and Business, vol. 2009(2), pages 13-20.
    • Handle: RePEc:prg:jnlrst:v:2009:y:2009:i:2:id:11:p:13-20
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    References listed on IDEAS

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    2. Emilia Janeczko & Joanna Budnicka-Kosior & Artur Dawidziuk & Małgorzata Woźnicka & Łukasz Kwaśny & Beata Fornal-Pieniak & Filip Chyliński & Anna Goljan, 2022. "Impact of Forest Landscape on the Price of Development Plots in the Otwock Region, Poland," Sustainability, MDPI, vol. 14(21), pages 1-17, November.
    3. Henry Wüstemann & Gero Coppel & Marco Masin, 2015. "Landnutzung und ländlicher Tourismus: Eine hedonische Analyse," Journal of Socio-Economics in Agriculture (Until 2015: Yearbook of Socioeconomics in Agriculture), Swiss Society for Agricultural Economics and Rural Sociology, vol. 8(1), pages 48-59.
    4. Hana Švejdarová & Eva Cudlínová, 2013. "Economic Value of Cultural Landscape, Non-Production Services of a Territory, and Non-Market Valuation Methods. A Survey Focused on Determining which Landscape Functions are Valuated Most Frequently a," Acta Oeconomica Pragensia, Prague University of Economics and Business, vol. 2013(5), pages 64-81.
    5. David M. Brasington, 2022. "Local economic growth and local government investment in parks and recreation, or five cheese pizzas for $2.6 million," Journal of Regional Science, Wiley Blackwell, vol. 62(1), pages 81-95, January.
    6. Jens Kolbe & Henry Wüstemann, 2015. "Estimating the Value of Urban Green Space: A hedonic Pricing Analysis of the Housing Market in Cologne, Germany," SFB 649 Discussion Papers SFB649DP2015-002, Sonderforschungsbereich 649, Humboldt University, Berlin, Germany.
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    8. Zene Combrinck & Elizelle Juanee Cilliers & Louis Lategan & Sarel Cilliers, 2020. "Revisiting the Proximity Principle with Stakeholder Input: Investigating Property Values and Distance to Urban Green Space in Potchefstroom," Land, MDPI, vol. 9(7), pages 1-16, July.

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